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Home My WebLink AboutIR 9011INFORMAL REPORT TO CITY COUNCIL MEMBERS To the Mayor and Members of the City Council No. 9011 February 3, 2009 Pacae 1 of 2 SUBJECT: Review of Neighborhood Empowerment Reinvestment Zone Renewals for the Lake Arlington and Stop Six Neighborhood Empowerment Zones The purpose of this Informal Report is to provide City Council with information regarding the proposed Neighborhood Empowerment Reinvestment Zone (NERZ) renewals. According to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312, the designation of a reinvestment zone for residential or commercial- industrial tax abatement expires five years after the date of the designation and may be renewed for periods not to exceed five years. Without renewal, the ability to waive taxes in the Neighborhood Empowerment Zones (NEZ) will be removed. Lake Arlington On February 3, 2004, the City Council adopted Resolution No. 3041 (M &C G- 14247) to designate the Lake Arlington area as a Neighborhood Empowerment Zone and adopted Ordinance No. 15854 which designated FWNERZ No. 16. The current ordinance designating FWNERZ No. 16 expires on February 2, 2009, and must be redesignated in order for projects located in this Neighborhood Empowerment Zone to be eligible to receive all of the benefits under the NEZ policy authorized by Chapter 312 for the Lake Arlington Neighborhood Empowerment Zone. The total fees waived and investments for the Lake Arlington NEZ since inception to January 2009 are as follows: • $12,446.51 Development Fees Waived • S0.00 Impact Fees Waived • S0.00 Liens Released • S565,198.00 Value of Tax Abatements • S 14,704, 100. 00 Total Investments Stop Sias On February 24, 2004, the City Council adopted Resolution No. 3048 (M &C G- 14272) to expand and designate the Stop Six area as a Neighborhood Empowerment Zone and adopted Ordinance No. 15886 which designated FWNERZ No. 17. The current ordinance designating FWNERZ No. 17 expires on February 23, 2009, and must be redesignated in order for projects located in this Neighborhood Empowerment Zone to be eligible to receive all of the benefits under the NEZ policy authorized by Chapter 312 for the Stop Six Neighborhood Empowerment Zone. The total fees waived and investments for the Stop Six NEZ since inception to January 2009 are as follows: • $152,542.00 Development Fees Waived • S158,158.00 Impact Fees Waived • $71,349.00 Liens Released • $152,592.00 Value of Tax Abatements • S50,845,717.00 Total Investments ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS 10, To the Mayor and Members of the City Council No. 5011 February 3, 2008 Paae 2 of 2 SUBJECT: Review of Neighborhood Empowerment Reinvestment Zone Renewals for the Lake Arlington and Stop Six Neighborhood Empowerment Zones According to State Law, in order to adopt the attached ordinances for renewal, five members of the City Council must vote in favor of adoption. Staff recommends proceeding with placing the two NERZ renewals on the February 17, 2009, City Council agenda for consideration by City Council. Attached is a general description of FWNERZ No. 16 and 17 boundaries. Should you have any questions, please feel free to contact Jerome Walker, Housing & Economic Development Deputy Director, at (817) 392 -7537. D A. Hass r P.E. City Manor Attachments FWNERZ No. 16 Boundary Description FWNERZ No. 17 Boundary Description ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS Lake Arlington Neighborhood Empowerment Zone (NEZ) Fort Worth, Texas Fort Worth Neighborhood Empowerment Reinvestment Zone No. • The area to be designated as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 16 for tax abatement purposes contains 1.98 square miles • land and is described below: ar On the East-. Beginning at the Fort Worth city 1"Imit, thence south along the Forn or city limit line to the northem night'-of"wa-y- (),finterst- a i o 1" 2, I On the South: Beginning at the intersection of the Fort Worth city limits and the westbound frontage road of Interstate 20. thence west along the westbound frontage road of Interstate 20 to the northbound frontage road of East Loop 820. On the West: Beginning at the intersection of the westbound frontage road of Interstate 20 and the northbound frontage road of East Loop 820, thence north along the northbound frontage road of East Loop 820 to the point of beginning. For additional information, contact Sarah Odle by telephone at 817-392- 7316 or in writing at the Housing and Economic Development Department, City of Fort Worth, 1000 Throckmorton Street, Fort Worth, Texas 76102. 2 c' f 1-2 CFA! Housing Department 1/27 O3 Fort Worth Neighborhood Empowerment Reinvestment Zone No. 17 General Description The area to be designated as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 17 for tax abatement purposes contains 4.1 square miles of land and is described below: On the East: Beginning at the intersection of Interstate 820 South and Union Pacific Railroad, thence south along Interstate 820 South to Oakdale Drive. On the South: Beginning at the intersection of Interstate 820 South and Oakdale Drive, thence west on Oakdale Drive to Nelms Drive, thence south on Nelms Drive to Wilbarger Street, thence west on Wilbarger Street to Carey Road, thence south on Carey Road to Brush Creek Road, thence west on Brush Creek Road to Village Creek Boulevard, thence south on Village Creek Boulevard to the westbound frontage road of U.S. Highway 287,thence west on the westbound frontage road of U,S. Highway 1.87 to its intersection wjth the southwest come.- of Lot 1 Block 45R of the Vi'lage K -� Creek Industrial PaIrk Addition, as re-Corded in Volume 388-1, Page 6'7 of the Tarrant County plat meconds, thence north along the western property line of Lot 1, Block -5R of the Village Creek Industrial Park Addition, as recorded in Volume 388-1, Page 67 of the Tarrant County plat records to the southeast comer of Lot 1, Block 4 of the Edgewood Park Addition, as re o e d :n Volume, 388-2, Paize 65 oil the Tarrant Cotinty plat Ncords,,, r-cn-th err nig t1hie east ertty line f" 4 cof" t' I c-) f 2 Edgewood Park Addition, as recorded in Volume 388 -2, Page 65 of the Tarrant County plat records to W ilbarger Street, thence west on Wilbarger Street to Edgewood Terrace, thence north on Edgewood Terrace to Eastland Street, thence west on Eastland Street to Hughes Avenue. On the West: Beginning at the intersection of Hughes Avenue and Eastland Street, thence north on Hughes Avenue to Berry Street, thence east on Berry Street to Edgewood Terrace, thence north on Edgewood Terrace to Forbes Street, thence west on Forbes Street to Miller Avenue, thence north on Miller Avenue to Avenue N, thence east on Ave N to Coleman Avenue, thence north on Coleman Avenue to Avenue J, thence west on Avenue J to Miller Avenue, thence north on Miller Avenue to Rosedale Street, thence east on Rosedale Street to the southwest corner of Lot 10, Block 1 of the Murray Hill Addition, as recorded in Volume 63, Page 117 of the Tarrant County plat records, thence north along the western property line of Lots 10, 9, 8, 7, 6, 5, 4, 3, 2, and 1, Block 1 of the Murray Hill Addition, as recorded in Volume 63, Page 117 of the Tarrant County plat records, to the northwest corner of Lot 1, Block 1 of the Murray Hill Addition, as recorded in Volume 63, Page 117 of the Tarrant County plat records, thence north across Windomere Street to the � E southwest corner of Lot 9, Block 2 of the Murray Hill Addition as z recorded in Volume 63, Page 117 of the Tarrant County plat records, thence north along the western property line of Lots 9, 8, 7, 6, 5, 4, 3, 2, and 1, Block. 2 of the Murray Hill Addition, as recorded in Volume 63, Page 117 of the Tarrant County plat records, to the northwest corner of Lot 1, Block 2 of the Murray Hill Addition, as recorded in Volume 63, Page 117 of the Tarrant County plat records, thence north to the Union Pacific Railroad. The area bounded by Avenue C on the north, Liberty Street on the east, Calumet Street on the south, and Amanda Avenue on the west is not included in fort Worth Neighborhood Empo%vernnent Reinvestment Zane No. 17, r � i a. "or additional nto- at u on, contact Sarah Odle by ue-Al pho n at 817-392 ' 16 or in writing at the Housing and Economic Development t 1 epa e t, City of Fort Worth, 1000 Throck norton Street, Fort Forth, Texas 76102, of